Today's Economy

Higher energy prices will be transitory on inflation; the Fed can sit tight.

Prices are expected to rise modestly in coming months but remain below $3.25 per million BTU for the duration of the year.

The slump in euro zone industrial production was expected, but the details were upbeat.

The output cuts hurt now but will help oil producers later this year.

Commentary

We look for improvement in housing-related data as past declines in mortgage rates begin to pay dividends.

Beijing’s easing measures will help temper the economic growth slowdown in 2019.

Euro zone inflation numbers are likely to decline slightly; and there is Brexit.

China won’t give much of a lift to already-slowing global growth.

Today's Economic Indicators

Canada
RPS House Price Index
Mar. 2019:

Spain
Consumer Price Index
Mar. 2019: 1.3%

Euro Zone
Industrial Production
Feb. 2019: -0.2%
Euro zone industrial production fell by 0.2% m/m in February, following an upwardly revised 1.9% jump in January.

China
Foreign Trade
Mar. 2019: US$32.6 bil
China’s foreign trade surplus widened to US$32.6 billion in March from US$4.1 billion in February.

United States
Import and Export Prices
Mar. 2019: 0.6%
Higher global energy prices provided a boost to various measures of U.S. inflation, but the impact should be transitory.

Peru
Monetary Policy
Apr. 2019: 2.75%
As expected, Peru’s central bank left the key reference rate unchanged at 2.75% in April, citing a small and narrowing output gap in its decision to extend monetary stimulus.

United States
University of Michigan Consumer Sentiment Survey
Apr. 2019: 96.9
Consumer sentiment slid 1.5 points in the preliminary April report, slipping to 96.9, losing some of the prior month’s gain as consumer expectations for the year ahead fell 3 points.